Board of Directors have approved allotment of 30,76,923 warrants to M/s. Malabar India Fund Limited
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The Board of Virtuoso Optoelectronics has allotted 30,76,923 fully convertible equity warrants to M/s. Malabar India Fund Limited on a preferential basis. Each warrant has a face value of Rs. 10 and is priced at Rs. 455 (including a Rs. 445 premium), aggregating to roughly Rs. 140 crore. The allotment, approved by shareholders at the EGM on July 23, 2025, gives Malabar a potential 9.45% stake in the company upon full conversion of the warrants. In-principle approval from BSE was received on August 21, 2025.
The company stands to raise around Rs. 140 crore in fresh capital once the warrants are exercised, strengthening its balance sheet. However, existing shareholders face a potential dilution of up to 9.45% post-conversion. Entry of a reputed institutional investor like Malabar is a positive credibility signal.